How Trump's tariffs impact the market and economy, 401(k) changes

Market Trends & Tariffs Impact - The market has largely ignored tariffs for the past 3 months, but concerns are rising about their potential impact on corporate profits [1] - Fresh tariffs from the Trump administration have gone into effect, with rates ranging from 50% on goods from Brazil to 35% for Switzerland and 25% for India [1] - The market's upward movement is attributed to concentration in software companies and companies like Nvidia seeking exemptions [1] - The AI trade is driving a lot of market enthusiasm, making it hard to find bears in the tech sector [2] Company Performance & Strategies - Airbnb's Q2 earnings beat estimates with revenue up 13% and net income up 16%, but Q3 guidance is weaker due to tariffs and investments [3] - Airbnb is investing $200 million in new services and experiences, impacting profit margins [3] - Apple CEO Tim Cook presented President Trump with a gift and pledged to spend $100 billion more on US companies and suppliers over the next four years [1] - Apple warned that tariffs would negatively impact profits by $110 million [2][3] Economic Outlook & Investment Strategies - One perspective suggests tariffs are beneficial for the US economy in the long run by reducing the budget deficit and increasing private investment, potentially raising economic growth by 2% [1][2] - Another perspective views tariffs as unsustainable and believes the market has merely adjusted expectations from catastrophic levels to still-high levels [1] - The market is seen as a "seven stock market" concentrated in the MAG seven [1] - There's a debate on whether to allow private equity, real estate, and crypto in 401ks, raising concerns about increased risk in retirement savings [11][12]